Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
Financial Select Sector SPDR (
iShares MSCI Emerging Markets Index (
iPath S&P 500 VIX Short Term Futures (
PowerShares QQQ Trust, Series 1 (
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are still in negative territory. Actively traded
PowerShares QQQ (
) is down 0.26%.
U.S. stocks have settled firmly in the red with the industrial
sector leading the declines with disappointing earnings from
chemical manufacturer Du Pont (DD) and multinational conglomerate
3M (MMM). Earnings in general have been weak. Concerns about
Europe's debt crisis have once again been stirred after Spain's and
Italy's borrowing costs declined, and these worries have gained
more traction following reports that Spain may not hit its deficit
target this year, according to Market Watch. Dow Jones Industrial
Average, which slipped more than 250 points, is now off 220.82
points or 1.67%.
Winners and Losers
Select Financial Sector SPDRs (
) is down 1.7%. Direxion Daily Financial Bull 3X shares (FAS) is
down 4.65%. Its bearish counterpart, FAZ, is up 4.7%.
Among financial stocks, Regions Financial (RF) is down 8% after
it reported Q3 earnings of $0.22 per share, compared with the
prior-year period's $0.20 per share. Analysts polled by Capital IQ
were expecting EPS of $0.20. Revenues were $1.35 bln, down 1% from
$1.345 bln in the same quarter last year. The Street view is $1.36
Industrial ETFs continue to slip lower: Vanguard Industrials
(VIS), down 1.1%; iShares Trust Dow Jones U.S. Industrial Sector
Index Fund (IYJ), down 1%; and Select Sector SPDR-Industrial (XLI),
In earnings news, Du Pont (DD) is down 8.5%, adding to earlier
losses of 6%, after it today reported Q3 earnings of $0.44 per
share, ex one-time items, versus the Capital IQ consensus of $0.49.
Revenues were $7.39 bln, versus the analyst estimate of $8.17 bln.
The company lowers its FY12 EPS guidance to $3.25 - $3.30, ex
non-recurring items, from the prior outlook of the low end of $4.20
- $4.40. Analysts are looking for $3.99 in EPS. DD also said that
it will implement a restructuring plan that will include
eliminating about 1,500 postilions globally in the next 12 - 18
Crrude slipped lower, down 2.66% while natural gas was up 1.72%.
United States Oil Fund (USO) is down 3.5%. United States Natural
Gas Fund (UNG) is up 2.3%.
Gold and silver were lower, down 0.94% and 1.34% respectively.
Among rare metal funds, SPDR Gold Trust (GLD) is down 1.2%; iShares
Silver Trust (SLV) is down 2%.
Healthcare ETFs continue to slip into the red: Health Care SPDR
(XLV), down 1.1%; Vanguard Health Care ETF (VHT), down 1.2%; and
iShares Dow Jones US Healthcare (IYH), down 1.2%. Biotech ETF
iShares NASDAQ Biotechnology Index (IBB) is down 1.6%.
In corporate news, Cytori Therapeutics (CYTX) has recovered
earlier losses and is now up more than 1% after it announced that
an investigator-sponsored and funded clinical study evaluating
Cytori's cell therapy as a potential treatment for limited and
diffuse cutaneous systemic sclerosis (scleroderma) has been
approved to begin in France by the National Agency for the Safety
of Medicines and Health Products.
Consumer ETFs are weaker: Consumer Staples Select Sector SPDR
(XLP), down 1.29%; iShares Dow Jones US Consumer Goods (IYK), down
1.60%; and Vanguard Consumer Staples ETF (VDC), down 1.35%.
Retail ETFs are also lower: SPDR S&P Retail (XRT), down
0.7%; PowerShares Dynamic Retail (PMR), down 1%; and Market Vectors
Retail ETF (RTH), down 1% after earlier hitting new year highs.
In sector news, Coach (COH) is up 9%, adding to earlier gains of
more than 6% after it reported Q1 sales of $1.16 bln, vs. the
analyst consensus of $1.16 bln on Capital IQ. EPS was $$0.77, ahead
by a penny. The company also approved a stock buyback program of up
to $1.5 bln in shares.
Power Play -
Tech ETFs are down on continued weakness: Technology Select
Sector SPDR ETF (XLK), down 0.4%; iShares Dow Jones US Technology
ETF (IYW), down 0.2%; iShares S&P North American Technology ETF
(IGM), down 0.74%; and iShares S&P North American
Technology-Software Index (IGV), up 0.25%.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) is
0.9% higher and Semiconductor Sector Index Fund (SOXX) has
recovered earlier losses and is now flat. SPDR S&P
International Technology Sector ETF (IPK) is flat.
In sector news, Yahoo! (YHOO) has bucked the downward trend in
the tech sector and even touched a new year high of $16.75. Shares
are now up 6%, after YHOO CEO Marissa Mayer late yesterday led her
first earnings call, reporting Q3 revenue, ex TAC, of $1.089 bln,
better than the analyst consensus of $1.079 bln on Capital IQ. EPS
was $0.35, vs. expectations of $0.26 per share. Earlier, shares
were upgraded to Positive from Neutral at Susquehanna.
Facebook (FB) and Netflix (NFLX) are due to report their
earnings results after the close. Shares are currently up 1.3% and